LOC

Flux Power Announces Capital Structure Update Including New Credit Facility with Cleveland Capital

Retrieved on: 
Friday, November 3, 2023
Chemicals, Plastics, Alternative Energy, Energy, Sustainability, Manufacturing, Technology, Finance, EV, Electric Vehicles, Professional Services, Batteries, Other Transport, Environment, Fleet Management, Transport, Automotive, Machinery, Security (finance), LOC, ATM, Bank, Silicon, Form, Securities and Exchange Commission of Pakistan, GBC, Bank of America, Growth, Merchant cash advance, Form 3, S-3, Silicon Valley Bank

Flux Power Holdings, Inc. (NASDAQ: FLUX ), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, today announced a new credit facility with Cleveland Capital L.P. (“CCLP”) and provided an update on its capital structure.

Key Points: 
  • Flux Power Holdings, Inc. (NASDAQ: FLUX ), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, today announced a new credit facility with Cleveland Capital L.P. (“CCLP”) and provided an update on its capital structure.
  • Entered into a new $2 million subordinated credit facility with Cleveland Capital, L.P. (“CCLP”) which includes a duration to August 15, 2025.
  • On July 28, 2023, the Company secured a new $15.0 million credit facility from GBC to fund working capital and to refinance its existing credit facility with Silicon Valley Bank.
  • Moreover, today’s announcement of a new $2.0 million subordinated line of credit with Cleveland Capital provides greater working capital optionality and continued confidence in our growth strategy from a long-term investor in Flux Power.

The Library of Congress Selects REI Systems' GovGrants® to Manage Its Grants Program

Retrieved on: 
Tuesday, October 31, 2023
LOC, MAS, Congress, Data, GSA, Salesforce, Division, REI, Federation, Software as a service, Pharmaceutical industry

STERLING, Va., Oct. 31, 2023 /PRNewswire/ -- REI Systems will implement GovGrants®, its full-lifecycle grants management product, for the U.S. Library of Congress (LOC) Grants Division.

Key Points: 
  • STERLING, Va., Oct. 31, 2023 /PRNewswire/ -- REI Systems will implement GovGrants®, its full-lifecycle grants management product, for the U.S. Library of Congress (LOC) Grants Division.
  • The Division offers grants, fellowships, awards, and prizes totaling approximately $10 million annually to a multitude of grant recipients.
  • Streamlining and digitizing the grants process is essential for improving efficiency for the world's largest records management organization.
  • The LOC sought to modernize its grants management processes with a cloud-hosted, SaaS COTS product that supports the end-to-end grants life cycle.

InventHelp Inventor Develops Modified Design for Optical Products (MBQ-438)

Retrieved on: 
Friday, October 13, 2023
Pressure, Multimedia, Glasses, LOC, MAX, Suite, Sale, Microscope

My design reduces irritation and pressure, and it prevents the glasses from continually sliding."

Key Points: 
  • My design reduces irritation and pressure, and it prevents the glasses from continually sliding."
  • The patent-pending invention provides a modified design for optical products such as eyeglasses or sunglasses.
  • The invention features a sleek and fashionable design that is easy to wear so it is ideal for individuals who wear various types of eyewear.
  • The original design was submitted to the Manhattan sales office of InventHelp.

ALIRT Research - Fronting Insurers At A Crossroads: Collateral Scandals and Restricted Reinsurance Capacity Remain Headwinds

Retrieved on: 
Tuesday, October 10, 2023
Growth, Insurance, Research, LOC, P&C

HARTFORD, Conn., Oct. 10, 2023 /PRNewswire/ -- ALIRT Research recently released an update on the U.S. Fronting Insurance sector, based on its composite of 46 U.S. fronting insurer specialists. 

Key Points: 
  • Lastly, the report provides an overview of the financial standing of these fronting insurer specialists, based on ALIRT's proprietary two-page ALIRT Analyses.
  • The report concludes that while ALIRT Scores for the composite insurers remain largely within normal ranges, the dispersion of performance across the composite can be substantial.
  • Also, the impact of the Vesttoo fake LOCs on impacted insurers' balance sheets is still playing out.
  • For an abbreviated version of the report, please contact ALIRT at [email protected]

The Avery Companies to Offer Financing and Letters of Credit to Rural Broadband Providers Receiving Federal and State Subsidies

Retrieved on: 
Wednesday, October 4, 2023
Digital divide, Avery, Letter, Unit Deployment Program, Avery Company, Social, Credit, Economic development, LOC, Internet service provider, Access

Benjamin A. Friedman, Managing Partner of The Avery Companies, "We believe that access to reliable, high-speed internet is a fundamental right.

Key Points: 
  • Benjamin A. Friedman, Managing Partner of The Avery Companies, "We believe that access to reliable, high-speed internet is a fundamental right.
  • Through this initiative, we aim to bridge the digital divide by supporting broadband providers in reaching more remote and underserved communities."
  • The Avery Companies will provide tailored financing solutions and letters of credit designed to meet the unique needs and challenges faced by rural broadband providers that receive Federal or State subsidies.
  • LOC – Letter of Credit for Broadband Equity, Access, and Deployment Program (BEAD)
    Broadband providers operating in rural areas are encouraged to apply.

Small Businesses Grapple with Financial Strain, Impacting Customers

Retrieved on: 
Tuesday, October 3, 2023
Optimism, Food, Leger, Face, St. Louis Fed Financial Stress Index, Luigi, LOC, CEBA, Government, SMB, The Weather Network, Equifax Canada, Artificial intelligence, Growth, AI, Credit, Bankruptcy, Retail, Cryptocurrency, Bank, Q2

TORONTO, Oct. 03, 2023 (GLOBE NEWSWIRE) -- New data from Equifax Canada* and a recent survey of small and medium-sized business (SMB) owners** signal that significant challenges and concerns may lay ahead for their businesses.

Key Points: 
  • Rising interest rates are also having financial consequences, as 75 per cent have raised their rates or pricing, and 69 per cent believe these rates negatively impact their businesses.
  • "Despite the significant financial challenges they face, small and medium-sized businesses are the backbone of our economy and have shown remarkable resilience, even in the toughest economic climates," said Jeff Brown, Head of Commercial Solutions at Equifax Canada.
  • An overwhelming 84 per cent call for increased government intervention to address these challenges and support small businesses.
  • Business owners are increasingly aware of their financial profiles, with 58 per cent recognizing their ability to access business credit reports.

Ecuron Launches Threat Intelligence as a Service to Bolster Business Security

Retrieved on: 
Thursday, September 21, 2023
Intelligence, Organization, Risk assessment, Compromise, LOC, Risk, Cyber threat intelligence, Arms industry, Risk management

The new Threat Intelligence Service stands as a robust solution, harnessing insights from a diverse range of sources, including attack campaign reports, malware analysis, human behavior patterns, and more.

Key Points: 
  • The new Threat Intelligence Service stands as a robust solution, harnessing insights from a diverse range of sources, including attack campaign reports, malware analysis, human behavior patterns, and more.
  • Ecuron's Threat Intelligence as a Service offering encompasses four crucial facets, ensuring comprehensive protection:
    1.
  • Strategic Threat Intelligence: Providing high-level intelligence for executive decision-making, assessing cyber risks, and facilitating breach attribution.
  • For more details about this new service or to request a free trial, please visit the service page: Cyber Threat Intelligence as a Service .

Loop Media Strengthens Balance Sheet

Retrieved on: 
Wednesday, September 13, 2023
Marketing, Airport, Regulation D, LLLP, Sale, Restaurant, Senior management, NYSE American, Growth, NYSE, LOC, Security (finance), Loop, Microsoft Excel

Loop Media, Inc. (NYSE American: LPTV) (“Loop Media”), the free streaming television media company for businesses which provides over 2 billion video views every month via restaurants, retail businesses, office buildings, doctors’ offices, airports, bars and college campuses, has converted approximately $4.4 million of short-term debt and accrued interest into 6,005,487 shares of Loop Media common stock, at a conversion price of $0.74 per share – a premium to the closing price of Loop Media’s common stock on NYSE American on September 11, 2023 of $0.535 per share.

Key Points: 
  • Loop Media, Inc. (NYSE American: LPTV) (“Loop Media”), the free streaming television media company for businesses which provides over 2 billion video views every month via restaurants, retail businesses, office buildings, doctors’ offices, airports, bars and college campuses, has converted approximately $4.4 million of short-term debt and accrued interest into 6,005,487 shares of Loop Media common stock, at a conversion price of $0.74 per share – a premium to the closing price of Loop Media’s common stock on NYSE American on September 11, 2023 of $0.535 per share.
  • In addition, Loop Media has also rolled over approximately $2.3 million of short-term indebtedness due in September 2023 into Loop Media’s $4.0 million line of credit due in May 2025.
  • These steps are intended to help shore up Loop Media’s balance sheet as it moves forward into its new fiscal year starting October 1, 2023, by eliminating $4.4 million of indebtedness on the balance sheet and moving $2.3 million of short-term debt into long-term debt.
  • These transactions eliminate 6.7 million of short-term debt from Loop Media’s balance sheet, which constitutes a majority of Loop’s short-term debt.

KEYBANK PROVIDES $5 MILLION LINE OF CREDIT FOR THE ADVANCEMENT OF SMALL BUSINESS WITH BRIDGEWAY CAPITAL

Retrieved on: 
Tuesday, September 5, 2023
KeyBank, Woman, Sports club, Investment, CDFI, Bridgeway Capital Management, LOC, Bank, Drug

CLEVELAND, Sept. 5, 2023 /PRNewswire/ -- KeyBank Community Development Financial Institutions (CDFI) Group has provided a $5 million line of credit (LOC) to Bridgeway Capital.

Key Points: 
  • CLEVELAND, Sept. 5, 2023 /PRNewswire/ -- KeyBank Community Development Financial Institutions (CDFI) Group has provided a $5 million line of credit (LOC) to Bridgeway Capital.
  • "Bridgeway has been a driver of capital for minority, women, immigrant, and veteran-owned businesses in economically distressed urban and rural areas throughout western Pennsylvania and we're thrilled to see their footprint expand into eastern Ohio."
  • "We are grateful for KeyBank's support of Bridgeway's work to advance opportunities in eastern Ohio," said T.J. Bogdewic, President and CEO, Bridgeway Capital.
  • "KeyBank's loan will help Bridgeway make focused investments in places to create quality jobs, build successful businesses, and develop vibrant communities."

Solar Integrated Roofing Corp. Provides Corporate and Operational Update

Retrieved on: 
Thursday, August 24, 2023
Tribeca, Shared services, EV, Financial services, Commitment, Engineering, OTC, Host, SIRC, NYSE, LOC, Cryptocurrency, Renewable energy, Rare-earth element

HENDERSON, Nev., Aug. 24, 2023 (GLOBE NEWSWIRE) -- Solar Integrated Roofing Corp. (OTC:SIRC) (“SIRC” or the Company”), an integrated, single-source solutions provider of solar power, roofing and EV charging systems, provided a corporate and operational update.

Key Points: 
  • -- Management to Host Investor Update Podcast Today, Thursday, August 24 --
    HENDERSON, Nev., Aug. 24, 2023 (GLOBE NEWSWIRE) -- Solar Integrated Roofing Corp. (OTC:SIRC) (“SIRC” or the Company”), an integrated, single-source solutions provider of solar power, roofing and EV charging systems, provided a corporate and operational update.
  • PLEMCo completed 14 EVSE Projects in LA County in 2023 year-to-date, with 4 additional projects currently under construction.
  • Completed the design and engineering phase of the Calaway Farms project with construction expected to begin in the second half of 2023.
  • SIRC will host an investor update podcast with the Company's Chief Executive Officer, Brad Rinehart on Thursday, August 24, 2023.